4 Easy Ways to Split Expenses With Your Roommate

4 Easy Ways to Split Expenses With Your Roommate

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It can be fun to share an apartment or dorm with a roommate or two, and the money saved on splitting rent isn’t bad, either. Here’s how to divide expenses to save on all of those everyday costs:

Carpool

Why drive separately if you’re going to the same place? Carpooling lets you not only avoid the boring drive to campus or work, but will also help you keep your wallet plump. To save even more on gas or ride fares, the pair of you can coordinate weekly trips to the store and ride together. Guess who won't be living off of Ramen now?

Divide Bills

If you have two bills that are approximately the same price each month, like water or electricity, it may be beneficial to assign one bill to each of you. This way, it’s not only easier to figure out what you need to pay, but you’ll be able to keep a steady budget each month. On the other hand, if your costs vary every month or if you have big, shared expenses (like rent), dividing the cost equally is probably the best way to go.

Groceries

If you have similar diets, why not just share groceries and split the cost? Who wants to spend all that time labeling everything in your fridge and pantry, anyway?

Netflix (and other services)

Cancel those extra subscriptions now. Why have two accounts for the same household? Just use each other’s. This is really beneficial when one of you has one service, like Hulu, and the other has another service, like Netflix. At first you may think, oh, it's only a few dollars a month, but that adds up fast!

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